
************************************************************************************************************
**#							TABLE 3 - EMPLOYEE RESPONSE BY INDUSTRY AND GEOGRAPHY
************************************************************************************************************

capture cd "/Users/joshw/CEO Pay Ratio/Analysis/"
use "Data/Temp/dataset_main.dta", clear

******************************************
*PANEL A - INDUSTRY
******************************************

*********************
*Change in Pay Rating
*********************
est clear
eststo: xi: reghdfe gd_pay_diff_365 pr_quint_ind_5 pr_quint_ind_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr==1, noabsorb
eststo: xi: reghdfe gd_pay_diff_365 pr_quint_ind_5 pr_quint_ind_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_payrating_industry.csv", b(3) ar2 varwidth(25) title("Pay Rating") order(pr_quint_ind_5 pr_quint_ind_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace

***********************
*Change in Productivity
***********************
est clear
eststo: xi: reghdfe ln_prod_diff pr_quint_ind_5 pr_quint_ind_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets if sample_yr==1, noabsorb
eststo: xi: reghdfe ln_prod_diff pr_quint_ind_5 pr_quint_ind_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_prod_industry.csv", b(3) ar2 varwidth(25) title("Productivity") order(pr_quint_ind_5 pr_quint_ind_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace

**************************
*Change in CEO disapproval
**************************
est clear
eststo: xi: reghdfe gd_ceodis_diff_365 pr_quint_ind_5 pr_quint_ind_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr==1, noabsorb
eststo: xi: reghdfe gd_ceodis_diff_365 pr_quint_ind_5 pr_quint_ind_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_ceodis_industry.csv", b(3) ar2 varwidth(25) title("CEO Disapproval") order(pr_quint_ind_5 pr_quint_ind_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace


******************************************
*PANEL B - GEOGRAPHY
******************************************

**********************
*Change in Pay Rating
**********************
est clear
eststo: xi: reghdfe gd_pay_diff_365 pr_quint_geo_5 pr_quint_geo_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr==1, noabsorb
eststo: xi: reghdfe gd_pay_diff_365 pr_quint_geo_5 pr_quint_geo_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_payrating_geo.csv", b(3) ar2 varwidth(25) title("Pay Rating") order(pr_quint_geo_5 pr_quint_geo_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace

***********************
*Change in Productivity
***********************
est clear
eststo: xi: reghdfe ln_prod_diff pr_quint_geo_5 pr_quint_geo_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets if sample_yr==1, noabsorb
eststo: xi: reghdfe ln_prod_diff pr_quint_geo_5 pr_quint_geo_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_prod_geo.csv", b(3) ar2 varwidth(25) title("Productivity") order(pr_quint_geo_5 pr_quint_geo_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace

**************************
*Change in CEO disapproval
**************************
est clear
eststo: xi: reghdfe gd_ceodis_diff_365 pr_quint_geo_5 pr_quint_geo_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr==1, noabsorb
eststo: xi: reghdfe gd_ceodis_diff_365 pr_quint_geo_5 pr_quint_geo_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd if sample_yr!=1, absorb(sample_yr)
esttab using "Output/Tables/RF/T3_emp_ceodis_geo.csv", b(3) ar2 varwidth(25) title("CEO Disapproval") order(pr_quint_geo_5 pr_quint_geo_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop(_cons) replace
